HyPower Fuel Inc.
PINK SHEETS : HYPF

March 31, 2011 23:19 ET

HyPower Fuel Provides Status Update on Two Acquisitions

CALGARY, ALBERTA--(Marketwire - March 31, 2011) - HyPower Fuel Inc. (PINK SHEETS:HYPF)

HyPower hereby provides an update into the status of its negotiations to purchase two companies.  Mr. Douglas Bender, CEO of HyPower, commented that "we were a little too aggressive in our hopes of releasing the details of one of the acquisition candidates this week.  However, we are very close to a Definitive Agreement and believe that the first acquisitions name and particulars will be released very soon.  This first company is an operating company that has a huge capacity to grow exponentially and made highly profitable."

Mr. Bender went on further to comment on the second acquisition by saying that "the second acquisition is also extremely exciting to HyPower in that its technology is a true game changer in a variety of fields and for many different potential products.  The technology is undergoing the last engineering bench tests required prior to the first beta tests. All of this is being done by a very recognized and reputable engineering consulting firm in the NE USA.  More news on the company, its products and its consulting engineers will be available over the next short while."

About HyPower Fuel Inc.

HyPower is a category leading company in the energy technology sector, providing innovative, clean alternative energies through unique methods. Currently HyPower has hydrogen insertion/production and biodiesel technologies in development and/or in the product commercialization stage. For more information please visit: www.hypowerfuel.com and/or contact us at: hypower@hypowerfuel.com

Safe Harbor – This press release shall not constitute an offer to sell or a solicitation of an offer to buy securities of HyPower Fuel Inc. Certain statements in this release and other written or oral statements made by or on behalf of the Company are "forward looking statements" within the meaning of the federal securities laws. Statements regarding future events and developments and our future performance, as well as management's expectations, beliefs, plans, estimates or projections relating to the future are forward-looking statements within the meaning of these laws. The actual results achieved may differ materially from any forward-looking statements due to these risks and uncertainties. These statements are based on our current expectations and speak only as of the date of such statements.

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